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Jun6

Renault Taking Time to Consider FCA Merger Proposal

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As perviously reported, Fiat Chrysler is currently hard at work, hoping to impress Renault to a point where it will pull the trigger on possible merger. FCA is now in talks with the French government, which owns 15 percent of Renault, hoping it will also find the 50/50 proposal agreeable.

Concessions are already being made. FCA has agreed to France’s request to give the government a seat on an prospective eleven-member board, which also holds four seats for Renault and one for Nissan. Rumors have also suggested that the automaker is considering moving its headquarters to Paris to appease the country.

While France appears to be somewhat receptive, Renault appears to be taking things to the next level. Following a week of discussions with FCA, the company announced it would be taking the rest of the day to give the matter serious consideration. 

“The Board of Directors has decided to continue to study with interest the opportunity of such a combination and to extend the discussions on this subject,” Renault said in a statement.

The press release follows three-hours of discussion on the matter scheduled on Tuesday. The Board said it would reconvene on Wednesday, June 5th. That would appear to imply that the company intends to use the entirety of the day to continue examining FCA’s proposals or possibly put together an announcement regarding the merger’s condition. Either way, expect more news on the subject very soon.

[Image: Jevanto Productions/Shutterstock]

– Renault Taking Time to Consider FCA Merger Proposal –

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